Then you rewind to a part needing review and end up seeing the damn ads again. Same irrelevant ads that I cannot figure out why they insist on me seeing.
A couple five second ads I can handle. What I can’t handle are two unskippable 15-30 second ads at the beginning of every video and at 2-3 random points throughout each video without warning; especially after over a decade of pretty much never watching ads for anything.
Same. Their reasoning and the warning in general make no sense. Why would it be safer to view “unreviewed content” (wetf that means) in their app vs a browser?
I despise whoever made new Reddit. You can only view comment chains two levels deep in new Reddit, then replies at one level, which means you need to constantly keep loading a new page and ads to see each reply in a thread.
Lol that’s the dumbest thing I’ve ever heard. But I can tell you who thought of it, easily. The people optimizing the ad revenue. UX isn’t their focus, but boosting profits is.
Is it going to boost profits though? This sort of thing is always presented as an easy way to boost ad revenue but when you’re selling ads at the volume reddit is I would have thought click-through rate would be king and it’s going to decimate that.
I’m sure if there’s one thing they’ve really gotten the hang of, it’s optimizing advertising profits. They explicitly said they’re killing third party apps because they want to sell user data. (In so many words). I can’t imagine they hadn’t thought of what makes them money. I imagine, actually, it’s what 95% OF their focus has gone toward recently.
That’s why navies stopped using broadsides and went to turrets about 150 years ago. Well, it’s one of the reasons anyway. Turrets also worked a lot better once you shifted to steam power and didn’t have to worry so much about rigging. Additionally, you could mount a much bigger gun on a turret than you could using broadsides on the sides of a wooden sailing ship.
Turrets also prevent what happened to the Vasa, which was the most powerful sailing ship of its time. Its time being 10th August 1626, from 3:40 pm to four o’clock. The king of Sweden ordered it to be made longer, halfway through building it. This scope creep turned out to have negative implications vis-a-vis keeping the gun ports above the waterline.
Considering I don’t see a lift kit, expanded exhaust, and giant low-profile tires; this just looks like a regular pickup truck to me. The luster on the paint is even a little faded, so it’s getting old. Driver is just an asshole here. Probably a shitty driver, since the rear bumper is hanging at an angle.
dude, a pickup truck is terrible no matter how you qualify it, they’re needlessly huge and have barely any cargo space, they’re just objectively bad in every single way.
there is no use case where a pickup truck is better than something like a kei truck, they even come in actually usefully lifted versions that would traverse offroad environments better since they’re lighter.
Unless you’re talking about towing other cars and carrying entire trees yea a kai probably wouldn’t make the cut but for furniture transportation fire wood mail delivery and mulch transportation are all things that take way less horsepower than you think hell even with car towing I’ve done with a dinky little 4 wheeler from the 80s if a atv can do all the things I mentioned a kai can absolutely accomplish them and you don’t take up soo much space when you take your haul through the city the reason everyone hates full size pickups is because soo many people just use them to get groceries and nothing more
It’s good as a shop truck sure. But most American CARS have double the payload weight of a kei.
They have a place, but what I was responding to was nonsense. Pickup trucks are a necessity for tons of work. A lot of crews doing different work haul trailers full of their tools and material.
so what’s so magical about the US that people need pickups there but not in the rest of the world? If you need to haul tools you have a van, which can carry a vastly larger volume without getting things wet.
Yeah, that’s an insane comment. I regularly tow an 8,500 lbs trailer with my pickup and regularly haul 2,000 lbs of pellets for our stove in it. Sometimes I tow the trailer with an additional 500 lbs of stuff in the bed of the pickup. I seriously doubt a kei truck - which aren’t even available here in the US - could handle either of those tasks.
Agreed. My argument is not that pickups are also owned and not used to their full potential.
My argument is that pickup trucks are the affordable workhorse of America. You can pickup a cheap second hand truck and beat the shit out of it while getting the job done.
Need to demolish a concrete structure at a customers house and dispose of it cheaply? Have you workers toss the rubble into the bed of your $5000 f150 to dispose of yourself. You wouldn’t want to do the same into a vans cargo space with all your tools.
Most work trucks in America tow a trailer full of tools and other materials that can’t get messed up, that’s why it’s really handy to have a bed attached to the truck for waste or extra tools.
We have a 3/4 ton Ram 2500 with the diesel for the aforementioned towing and hauling, and there’s no question it’s a luxury vehicle. I recognize that. I also don’t daily drive it - it’s 9 years old and still has less than 60k miles on it and my plan is to keep it as close to forever as possible.
If we weren’t towing the trailer and hauling those pellets with it, an old beater half ton would still be a pretty handy vehicle to have around. I occasionally need lumber for various projects around the house; I have to run things to the dump sometimes; I sometimes need to get propane (which shouldn’t be carried in an enclosed vehicle for obvious reasons, though I did it many times before we had a pickup); sometimes I’m working on a car and need to carry a greasy or oily part; sometimes I move heavy arcade games; and so on.
Maybe a kei truck would work for those latter tasks, I don’t know…since they aren’t available here, the whole argument is kind of moot. If the manufacturers thought there was a reasonable market and profit for them, they’d be doing it. My understanding (which may be incorrect) is that the kei trucks do not meet US crash standards, and modifying them to meet that standard would kill the utility they have now.
there is no use case where a pickup truck is better than something like a kei truck
I like the mini-trucks like the Kei, they are practical and useful for light loads around town. What they don’t do is heavy loads and / or long distances.
So here’s a “use case” where my full sized American pickup truck is required. Several times in the last 6 months I’ve pulled a triple axle trailer weighing 12,000lbs (5,440 kilograms) a distance of 200 miles (320 kilometers) at an elevation of 6,000 feet (1,828 meters) ). Assuming the weight didn’t collapse the rear axle or buckle the frame on a Kei then trying to actually pull the weight would certainly destroy the transmission and / or engine.
If you want to discuss “cargo space” then ALL pickups, including the Kei, suck. Holding cargo internally is what van bodies are for, not pickup bodies. This why city based tradesman the world over drive chassis with van bodies.
So called “Off Road” is a whole different can of worms, nearly no one really does it (even if they think they do) and I’d submit that NO mass produced pickup is truly suited for it as real Off Roading is done with vehicles specialized for the terrain they are working in.
Mini-trucks are great at what they’re meant for but they aren’t meant for everything.
If you live in a village and don’t have to haul much weight or drive far, sure, kei trucks make sense. I definitely saw them around Germany and France. In the US, everything is spread out. Also, kei trucks aren’t widely available in the US, and certainly not as much as Pickup trucks. Pickup trucks are also designed with use as a daily driver, since most people buying one will have that as their only vehicle. For someone with a great need of one, it’s both a highway vehicle and an off-road capable vehicle with high ground clearance. It’s a truck that will let you tow a trailer full of equipment one day and make that 50-mile commute to work the next.
Well it’s possible to retrofit, you need to be willing to open the wall which is not a bad thing as it allows you to make a frame so you can center the TV exactly where you want it.
While being over a fireplace causes the TV to sit too high, the real concern with that location is heat and particulate matter released from the fireplace.
If it works for you that’s great. Every one I’ve experienced is so high up that it is literally a pain in the neck.
I suspect a minority of TVs over fireplaces are rarely used, or just used for utility (news, etc). Those ones are usually the worst ones where you question the sanity of placing it there.
Also, after pondering it more, I also suspect really large TVs up higher with a father back seating position are less of an issue. If you visualize that, the angle of looking up gets shallower the farther back you go.
The cliche of TVs over fireplaces being bad starts with smaller tvs many years ago. I suspect your situation is a reasonable distance back. And your tv is big enough to support that distance.
I love when people are like “if you get a windfall of money you’ll probably go bankrupt. Look at the statistics from lottery winners, 70% of them end up broke.”
Ah yes, a subset of the population whose only common traits are that they gamble and make objectively terrible financial decisions. Obviously this group should be the benchmark for the financial literacy and money management of the general population.
True, though let’s not act as if the family and friends constantly asking for money or expectating it, old acquaintances suddenly claiming you abused/assaulted/scammed them knowing you’ll just settle out of court to get them to fuck off, haven’t happened even to fiscally responsible people as well.
There’s more than just bad financial literacy with some of them, as not all lottery winners are always broke gamblers. The majority are, but not all. So the fact that almost every single person loses it all in a couple years should indicate that it still has massive potential to make your life harder even if you know what you’re doing and don’t succumb to massive overspending.
I think I could actually lay low pretty easy. Everything I'd buy people know I've been saving up for for a while. And they all take time to get even if you have the money so it wouldn't be all at once.
Plus my "dream [property/vehicle/hobby items/etc]" are all fairly atainable. Like theres a certain classic vehicle I want that usually goes for 20-30k just the configuration I want is a little difficult to find.
Not all states allow you to collect winnings anonymously. I doubt your relatives are actively monitoring lottery winners, but there may be some sleazy, ambulance chasing lawyers that do and would “preemptively” reach out to family and friends to let them know they’re happy to represent them if they “just so happen” to suffer any damages from you.
Be…before I go. Could you approve all my experimental PRs?
Real story, I have a branch that’s been open for four years at my company to add support for nested postgres transactions. It works flawlessly… but we, the senior devs, are uncertain if it’s a power that would be used responsibly by the juniors. If I’m going to walk into the light, I’m going to make sure there’s a badass explosion behind me.
I’m in the niche of niches by using vsc with a vim plugin while being a dvorak user. I rely on vim’s langmap feature to get anywhere, but people implementing vim emulators blissfully ignore accessibility like that. So I went and implemented langmap in vsc’s vim plugin myself. It has minimal intervention into the existing codebase and a bunch of other people have been wishing for this for years. Yet, when it comes to merging… Silence.
The phrase “SQL programmers” is so fucking weird. SQL isn’t a programming language. It’s a query language. You don’t “program” things with SQL. You utilize SQL as a component of programs for data insertion and lookup, but the actual logic of execution is done in a programming language. Unless you’re doing Oracle PL/SQL, in which case why are you giving money to Oracle?
This doesn’t make sense to me. SPs and functions are in every major database. If I wrote a bash script that runs like a program, and sounds like a program, did I program it? Script it?
And lots of systems have nested logic in the DB, optimization often leads to that to reduce overhead. Unless you’re being lazy with an ORM like prisma that can’t even join properly.
Getting high performing queries is just as difficult as any other programming language, and should be treated as such. Even Lemmy’s huge performance increases to .18ish came from big PG optimizations.
It seems to be about yelling at others that “you’re not a real programmer!!!” mixed with being so “technically correct” my eyes can no longer roll the same way they used to.
Admittedly, this discussion is more one of semantics than anything. It’s pretty clear I’m arguing that SQL is not a “General Purpose Language,” and that proficiency in that domain is what constitutes programming. Which, yeah, is arguably somewhat arbitrary. But my point is that, colloquially, someone who only works with SQL isn’t a programmer. Data Engineer, sure. DBA. Also, sure. Depends on what you do. Programmer? Not really. Not unless you (as in the person, not “it’s theoretically possible”) can use raw SQL to read in video data from a linux system device file and then encode it to mp4 and just nobody’s told me.
Do that in Javascript. Or HTML. Or CSS. Or by that logic is a web developer not a programmer? What about microcontroller programmers?
I could easily write a full logic program in SQL where the API just feeds it data, which is the inverse of how you treat SQL. Admittedly that’s not as common, but it happens pretty frequently in areas of big data, like medical.
I’ve hired Senior Software Engineers that were DBAs, and others that weren’t. They were a development team, all programmers in their own right.
MS SQL Server has this thing called Replication. It’s a feature to keep tables in sync between databases, and even database servers. There’s merge replication (two way), snapshot replication (one way scheduled publishing), and transaction replication (one way live-ish publishing).
And the logic is all implemented in T-SQL stored procedures.
T-SQL is turing complete. While the MS SQL server has limitations on OS level operations, if you allow yourself some leeway with CLR wrappers for the win32 API, there’s no reason I can think of you wouldn’t be able to get the database engine to be a webserver reacting to incoming requests on port 80, or drawing GUIs based off of table state.
Your knowledge of data engineering may be limited. SQL is predominant in data processing nowadays. FOSS tools such as DBT allows to write efficient data processing pipelines with SQL and some YAML config without the need for a general purpose coding language.
Why would anyone want that? Because SQL has the interesting property of describing the result you want rather than describing how to compute it. So you can put inside the database, a query engine with decades of optimizations, that will make a much better job at finding the best execution plan than the average developer.
It also means it’s easier to train people for data processing nowadays.
LaTeX being called “programming” I can see, but I’ve never heard someone try to justify Markdown as programming. It’s just formalizing things people were already doing to format text in plain text files into approximately half of a standard.
Why not? It sounds like you haven’t written any OLAP queries :)
I’ve written ETL data pipelines using a system similar to Apache Airflow, where most of the logic is in SQL (either Presto or Apache Spark) with small pieces of Python to glue things together. Queries that are thousands of lines long that take ~30 minutes to run and do all sorts of transformations to the data. They run once per day, overnight. I’d definitely call that programming.
Most database systems support stored procedures, which are just like functions - you give them some input and they give you some output and/or perform some side effects.
So is Tex. And, yet, I still don’t put it under the “programming languages I know” section on my resume. Probably because it’s not a programming language.
It’s important to keep an up to date resume, even if you’re employed. That’s a little life pro tip for you kids out there, with your iphones and your tik toks and your Fortnite dances and your existential malaise brought about by encroaching climate disaster and advanced technoindustrial capitalism.
The general census is that latex actually is an example of programming languages sharing semantics with non programming languages and not being intend as a programming language.
since you linked to wikipedia:
The domain of the language is also worth consideration. Markup languages like XML, HTML, or troff, which define structured data, are not usually considered programming languages.[12][13][14] Programming languages may, however, share the syntax with markup languages if a computational semantics is defined. XSLT, for example, is a Turing complete language entirely using XML syntax.[15][16][17] Moreover, LaTeX, which is mostly used for structuring documents, also contains a Turing complete subset.[18][19]
Sometimes even non Turing complete languages are considered a programming language but Turing completeness usually is the criteria agreed upon:
The majority of practical programming languages are Turing complete,[5] and all Turing complete languages can implement the same set of algorithms. ANSI/ISO SQL-92 and Charity are examples of languages that are not Turing complete, yet are often called programming languages.[6][7] However, some authors restrict the term “programming language” to Turing complete languages.[1][8]
In Sid Meier’s Civilization sure, but real history is a lot more complex than that. There were people who came to that conclusion since ancient times without it leading to a scientific and industrial revolution, because there were a lot more factors at play with those than just simply the idea of it.
The actual reason science took off is that there was a plague leading to a worker shortage leading to a wealth boom, while a lot of rich people had access to coffee and nothing to do.
While I, too, am a big fan of the Coffee hypothesis, it should be noted that lots of civilizations had access to caffeine and other stimulants, including the Arabs, Chinese and Incas and probably the Roman’s, Greeks and Persians too.
And there were a lot of plagues, but most of them happened long before the scientific revolution.
Free time and the wealth to have that time is what I also think the catalyst is. Same with arts. You can’t do experiments or spend time on art if your entire life is consumed by labor.
speaking of health, wouldn’t you die to some disease you are not immune to? or even more likely you would cause a plague that their bodies don’t lnow how to fight off, like imagine bringing back some covid variant with you.
I mean, us bringing back something to kill them seems more likely, despite our comparatively weak immune system’s. Be it COVID-19 or an STD. Hell, even our metal/plastic ridden bodies would be a potential issue for their environment if we died.
pretty sure you can just use wood or whatever for the lettering, sure it might be kinda shit and tend to break but it should work. having to make new letter stamps every now and then is better than painstakingly writing every letter for hand.
The main problem with that is that you can’t make the types very small with wood, and the singlemost expensive ingredient in this whole printing press concept is the paper.
So you would end up having books with very little text on each page, and especially in a slave economy, it would just be much cheaper to make handwritten copies, since you could cram a lot more words on each page.
And again, this is not adressing the issue of even having the skill to make paper in the first place.
Not to mention inventing an alphabet depending on where and when you go to. Or you could go with ConstantScript if you feel like being a gigantic troll.
Abugida might be workable if you reform it so that vowel markers can only appear above or below the modified consonant.
Ye, i remember they mentioning this, and people i know confirm it works fine. It just doesnt work on my end. I do have firefox set up to be very private though ( no 3th party cookies and more )
That's definitely a part of it. All of the MS web platforms rely heavily on first and third party cookies. You can't even log in properly to Teams if your browser is in incognito/private mode.
Chrome is the new IE in terms of support. “Best viewed in Chrome”
Safari is the new IE in terms of weird bugs that no other browser encounters. Some of their web APIs like LocalStorage and IndexedDB still have odd quirks (but at least they’re not completely broken any more).
I’ve calculated if it would pay off to build a house with four units on a piece of land that I already have. It would barely pay for itself after 30 years but let’s be honest, 30 years is when the first big renovations are in order. I’m not sure if the “landlords are rich leeches” - trope holds up outside expensive cities with inherited properties.
It really depends on the nature of the rental and your area. If instead of building a house you build 4 closely stacked duplexes and charged each one double what the mortgage would be you’d definitely make money, but you’d also be an extortionate leech. In my area someone built 4 nice duplexes on a double lot (probably around 1.5 acres) and is now renting them at $1800 each. The land was probably less than $55k and the cost of construction was likely less than $1 mil. At 5% interest on a 30 year loan their monthly payment would be $5,600, but they’re bringing in $14,400 per month.
$1800 for rent is an extortionate price in my area (it’s big city apartment rental prices, with a pool and gym), even after interest rates went up.
On the other hand, I knew a couple who were landlords for nearly 20 years. They rarely raised the rents and even in 2022 they were still charging <$1000 per month for a full house because that paid the costs and for them it was an investment, not a source of income.
They finally sold their rental homes and made about $70k over what they originally paid on each house. Doing the math that comes out to be a roughly 8.5% annual percentage return without counting the rent gained each month. That’s a fairly solid investment without being a sucky person.
This is the answer, literally this is what millionaires have been doing for ages. It’s just unique that the COVID era interest rates were so low that it made it so that 100-thousand-aires could do what millionaires had already been doing.
I couldn’t qualify for an investment loan worth a million dollars without making some really poor/speculative decisions
Being a full time landlord is super profitable and trouble free until it isn’t. If you get some troublesome tenants your sweet business decision can become a freaking nightmare.
This estimate doesn’t include taxes or insurance
I think these rental prices are outrageous and I’m surprised anyone agreed to them. Not sure who these people are, but someone took the deal. Maybe there was some sort of arrangement so that they didn’t pay the listed rental price (like x number of months free, waived deposit, etc).
I wouldn’t be surprised if the owner is overleveraged unless they were already independently wealthy or they got in before the interest rates went up.
For a while between 2020 and 2022, if you had your home paid for, you could take a mortgage out on that property and invest that money and make more money on the return on investment than the payment for the mortgage and the taxes owed on your profits. That’s how low the interest rates were for a while. I have a coworker who refinanced his house for 2% on a 30 year fixed rate, inflation is generally higher than his interest rate. Doing that sort of thing, taking a loan out on one house to invest with, is stupidly speculative but I wouldn’t be surprised if people did it.
Yeah, well, here they don’t. Currently, building from new costs about 3200€/m^2^, provided you own the ground already.
Average rent for a newly built, low energy appartment with fibre to the home and covered parking including a wallbox (so, basically the optimum you could build with a high rent in mind) around here is about 9 to 10€/m^2^. So that’s 26 years before the building is paid off and that does not include interest for a loan or upkeep for the building. With 4 percent of interest which seems to be the lower end of the market right now I’d never break even.
Buying here is cheaper (1600 per sq meter in the commie blocks part of the city) and rent is about the same. Outside of those blocks you’d usually get copper and no real insulation, with street parking. A brand new apartment in a nice place might net you 15-20 eur per square meter.
Of course, I live in the ass end of Europe where wages are half of what they are in the west so it makes sense our rents, food costs, etc are higher. The peasants shouldn’t have too much to their names.
Tenants also pay any loans associated with the apartment building repairs, or the repair fund collection, not by law but because apartments are in demand and tenants are not. The law actually says it’s the responsiblity of the owner, but there’s literally nothing saying that responsibility can’t be shifted.
Whenever I do the math on buying a multi-family, I find you’d either not be breaking even or barely breaking even with the mortgage, insurance, and taxes by charging market rent. The current landlord is basically claiming future rents as his own when he sets the asking price at level that takes all of the current market rent price for himself.
If you buy the property and want to have enough to do repairs / renovations and cover unexpected risks like tenants that can’t pay and won’t leave, you HAVE to go up on rent, otherwise you will go broke and lose the property.
Maybe there was a golden age when being a landlord meant instant cash flow and money making opportunities, but I find most of the stuff on the market today are just people looking to cash out all future value in the property and assuming the next landlord will basically just jack up rent to cope with the high cost of that cash out.
Being a landlord is pretty risky. You could end up with a bad tenant that ruins your property or won’t pay and won’t leave. You also are responsible for costly repairs and renovations that can have long breakeven timelines. You have to cover that cost some how, and that is by charging rent. Who would assume that risk without a reward?
Good luck getting 11% a year in the stock market. I think your stats include the pandemic and I don’t think we’ll see increases like that again, at least we can’t count on it.
11% has been a financial planning standard since time immemorial (ok, well, since after the great depression). If a hedge fund or other investment isn’t hitting 11%, you should be in S&P or NDQ which flattens to 10% over time… or “only” 6-7% after adjusting for inflation.
The last 30 years are considered “below average”. The market only grew 9.9%/year on average. Which apparently that 0.1% is a big deal for investors.
Here’s a fairly good breakdown on SOFI. Obviously, we’ll never know what the future holds, but 10% over time is the “bad return” that rich people talk about.
“Landlords are rich leeches” is still true because the vast majority of property in the US is not owned by hard working people who are investing their earnings owning a handful of properties at most, but by property companies and hedge funds.
I’m not sure what you used to calculate it, but it definitely isn’t only “expensive cities with inherited properties”… I did the math on the last house I rented: lived there for 8 years. It was a duplex in a city in a very cheap cost of living state. Just my rent alone for those 8 years more than covered what the entire duplex was purchased for 3 years prior to me moving in. That means if both sides were occupied, which it was for all but 1 month in the 8 years I was there, it’s paid for in full in 4 years. Even if you “have to renovate” in 30 years, hell even 15 years, you have 10 years of pure profit even after considering insurance and property taxes and probably even maintenence costs…
Maybe your area doesn’t have high demand for rentals or you under-valued your rent price, but there wouldn’t be so many people doing it if it wasn’t profitable.
That’s how a mortgage works. But the point is that after those 30 years you have a million dollar asset. That you had your tenants pay for.
For a regular plebs like us that’s not a winning proposition because we can’t have our money tied up for 30 years but for people who don’t need their money liquid, it’s free real estate
It’s hard to get a good return on your investment in residential real estate without using leverage.
For instance: You don’t buy one place outright. You buy 5 with 20% down. You may not have positive cash flow, but at long as it isn’t negative not only do you get all the increase in value, you also get more equity every month as the tenants pay your mortgages.
If you bought it outright and over some period of time the tenants have paid your entire investment and the price of the property doubles, you doubled your money. If you buy 5 and over some period of time the tenants pay your mortgage and initial investment and the properties have doubled in value you have increased your initial investment 10X. And before the big expensive renovations come in, you can sell and buy something else if you’re not equipped to deal with that.
Also if you are just breaking even to get free property but you want to start getting passive income, after a few years you can refi to a longer term and lower your mortgage payments to get in the black every month.
This isn’t advice, fuck anybody buying up single family homes to rent, just showing one way they can generate both wealth and passive income for nothing. Literally nothing if they’re using a property management company.
Fuck anybody buying up single family homes to rent. I know I already said that, but it bears repeating.
Sure, but I think this example also commingles labor with ownership (as is often the case).
Like you said, your plan involves building a four-family home. That’s labor and worth fair remuneration. It’s just that, in order to get that remuneration you’d be taking payment from tenants who build no equity for their money. Yeah, you’ll have to renovate in 30 years, but you’d still have property and the money paid in rent while they don’t.
A landlord can also simultaneously do valuable work supervising and managing a property. That’s not mutually exclusive with profiting from ownership, and we can separate how we evaluate the two. It even comes up with billionaires: Bill Gates obviously did work worth payment as CEO of Microsoft, it’s just not where he got most of his fortune. It can simultaneously be true that he’s a talented guy who deserved to be paid, but most of his fortune came from exploitative business practices and profiting off of the labor of others.
Also, to be clear, there’s a difference between structural and individual criticism. Obviously slumlords are pieces of shit, but there’s a difference between that and someone who really does work as a property manager doing right by their tenants, or a family renting out a part of their home to make ends meet. I can think that landlords should be judged on an individual basis, while landlording as a thing shouldn’t exist.
I’m on your side mostly but the property prices going up in those 30 years would net you a fortune alone. You could likely sell it as is and triple your money
The old saying ‘buy land because they aren’t making anymore of it’ is true. As the world population grows, owning large amounts of land will be scarcer and scarcer. Most young people can’t afford a home in any western nation across the world and it’ll only get worse the world over as time goes on and the population continues to grow.
The big money’s isn’t in the rent, the rent is just to pay the mortgage and upkeep. It’s that you’re getting in debt that someone else is paying for you while they gaurd your asset which is only gaining in value, you then sell that somewhere in the futute.
On average, the same amount of money dropped into the NASDAQ will have much better overall returns. Real estate ROI is about 4% per year, where the stock market has held close to 11% over the long haul nearly a century.
For small-time landlords, it’s often about “I have a place for me or a family member to live if things go bad”. For bigger ones, it’s the tax-shelter and the low volitility of real estate, as well as diversity in case you need to sell when their stock is down.
Being a landlord isn’t a way for someone who doesn’t have wealth to acquire it. It’s a way to park your existing wealth in quickly appreciating assets preferably purchased from other losers when they lose their asses and collect monthly rent too.
If on day one you have 700k and you purchase an existing property and in 30 days after you rent it out your property is still worth 700k and you are now ahead of the game in 30 days not 30 years.
If you purchased at a reasonable time a year later its worth 750 and you’ve collected 84k 1% of property value per month.
quickly appreciating assets preferably purchased from other losers when they lose their asses and collect monthly rent too.
I wouldn’t say quickly appreciating, though. It’s a fairly slow growth rate for someone with that kind of money. They diversify into real estate because it creates some tax protections (your costs) and it’s fairly stable. Like buying into a terrible small business, but one that magically won’t fail. The things that could cause total loss to real estate are usually handled in standard insurance, unlike a business that can just tank.
The thing is, as you and the other person said, it’s all about the big companies who own tons of real estate AND the big companies that manage rental properties.
“No, wait, it’s not what you think! There’s a continuous integration system, a commit would’ve triggered a new build! It might have paged the oncall! Babe! The test suite has been flaky lately!”
lemmy.world
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